Good indications for British commerce and industry emerge from the data published by the ONS (Office for national statistics): Britain's global trade deficit fell to its lowest level since April 2003 at £1,1 billion in December. On a seasonally adjusted basis, however, the deficit is £7,1 billion, the lowest since February 2010. Both figures are better than analysts' estimates.
Export levels of oil and petroleum products are at their highest level since 1998. In 2011, Britain posted a record annual global trade deficit at £99,3 billion. With countries outside the EU, the seasonally adjusted deficit fell to 3,7 billion pounds from 5 billion.
A UK industrial production rose 0,5% in December from the previous month, against expectations which indicated a slight recovery of 0,2%. On a trend level, there was a drop of 3,3%. Important the 1% rise in manufacturing output compared to the previous month, which however showed a decrease of 0,8% on a trend basis.
